New York State Teachers Retirement System boosted its stake in Franklin Street Properties Corp. (NYSEAMERICAN:FSP – Get Rating) by 4.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,152 shares of the real estate investment trust's stock after buying an additional 5,400 shares during the quarter. New York State Teachers Retirement System's holdings in Franklin Street Properties were worth $715,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Spire Wealth Management raised its position in Franklin Street Properties by 44.5% in the 4th quarter. Spire Wealth Management now owns 7,820 shares of the real estate investment trust's stock valued at $47,000 after purchasing an additional 2,410 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in Franklin Street Properties in the 4th quarter valued at $967,000. Yousif Capital Management LLC bought a new position in Franklin Street Properties in the 4th quarter valued at $518,000. Nisa Investment Advisors LLC raised its position in Franklin Street Properties by 7.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 80,950 shares of the real estate investment trust's stock valued at $449,000 after purchasing an additional 5,800 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its position in Franklin Street Properties by 30.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 29,015 shares of the real estate investment trust's stock valued at $173,000 after purchasing an additional 6,815 shares during the last quarter. Institutional investors and hedge funds own 81.65% of the company's stock.
Get Franklin Street Properties alerts:Analyst Ratings Changes
Separately, B. Riley cut their price objective on Franklin Street Properties from $6.50 to $6.00 in a research report on Thursday, May 5th.
Franklin Street Properties Stock Performance
FSP stock opened at $3.80 on Wednesday. The firm has a market cap of $391.98 million, a PE ratio of 7.92 and a beta of 0.87. Franklin Street Properties Corp. has a twelve month low of $3.54 and a twelve month high of $6.58. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.89.
Franklin Street Properties (NYSEAMERICAN:FSP – Get Rating) last released its earnings results on Tuesday, May 3rd. The real estate investment trust reported ($0.04) earnings per share for the quarter, topping analysts' consensus estimates of ($0.05) by $0.01. Franklin Street Properties had a return on equity of 6.78% and a net margin of 22.85%. On average, research analysts expect that Franklin Street Properties Corp. will post 0.56 EPS for the current year.
Franklin Street Properties Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 11th. Stockholders of record on Tuesday, July 19th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, July 18th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.05%. Franklin Street Properties's payout ratio is currently 75.00%.
Insider Transactions at Franklin Street Properties
In related news, Director Brian N. Hansen acquired 42,500 shares of the company's stock in a transaction that occurred on Thursday, June 16th. The stock was acquired at an average price of $3.93 per share, for a total transaction of $167,025.00. Following the completion of the acquisition, the director now owns 275,000 shares of the company's stock, valued at approximately $1,080,750. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Brian N. Hansen acquired 42,500 shares of the company's stock in a transaction that occurred on Thursday, June 16th. The stock was acquired at an average price of $3.93 per share, for a total transaction of $167,025.00. Following the completion of the acquisition, the director now owns 275,000 shares of the company's stock, valued at approximately $1,080,750. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brian N. Hansen acquired 50,000 shares of the company's stock in a transaction that occurred on Tuesday, June 14th. The stock was bought at an average price of $3.96 per share, with a total value of $198,000.00. Following the acquisition, the director now directly owns 225,000 shares of the company's stock, valued at approximately $891,000. The disclosure for this purchase can be found here. Insiders bought a total of 102,900 shares of company stock worth $414,841 over the last 90 days. 4.35% of the stock is owned by insiders.
Franklin Street Properties Company Profile
(Get Rating)
Franklin Street Properties Corp., based in Wakefield, Massachusetts, is focused on infill and central business district (CBD) office properties in the U.S. Sunbelt and Mountain West, as well as select opportunistic markets. FSP seeks value-oriented investments with an eye towards long-term growth and appreciation, as well as current income.
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